Friday, March 30, 2012
Three houses three prices. Many concerns to think about. Which house is the best deal for you? Before you ask me, a realtor or another investor to show you a home know what you want. Know the parameters you can afford. Know the most you can spend and the least you will accept. Sometimes as an investor I hear a lot of talk before a purchase or rent to own home is ever selected and a purchase is made.
We want the best school district in the area. I need to be near the lake. My children are really advanced and we need the best private school in the area. I need to be within a two minute walk to the main stores and/or the doctor’s office. I need a 5 bedroom 3 bath house for under $100,000 and/ or a house with a payment of not more than $750 a month. Understanding what ones’ true needs are is important.
We have found these houses. We can find you a home. The buyer must decide what is truly important to them before they start looking. Schools, shopping, price, bedrooms and bathrooms are all important criteria for your new home.
One tip is do not pick a house without all 4 walls unless you have time and money to restore it. Price is important but having a move-in ready home with 4 solid walls is very important unless you are a rehabber looking for a fixer upper house.
Make sure you use the check list for your new home before you purchase, owner finance, lease or rent to own.
Simple “do it yourself” home buying checklist:
1.Type of Financing
2.Termites and other bugs, fleas
3.Smells, odors, mold
4. Water and water damage
5. Roof, foundation, siding
6. Does everything work?
7. Plumbing, electric, gas
8. Windows, locks, doors
9. Neighborhood, schools
10. Zoning, easements
11. Taxes, HOA
12. Age, lot size and boundaries
13. Number of homes for sale in the area
I check these things when I buy a house and you should also add this list to your pre-purchase consideration.